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Man Enough

I think Dan Awendo had a way of telling it better than I’ve heard it before. As he talked, I was caught up between listening and making notes.

My attempts below:

If God is not at the centre of why you’re pursuing wealth, you’re doing it wrong. You need to have your objectives very very clearly.

Presentation in three parts:
1. God’s original plan
2. Sources of wealth
3. Life plan – our time here is counted

1. God’s original plan
In Genesis 1:28, God gives man dominion over everything. These were among the first words from God to man.
“Be fruitful and increase in number; fill the earth and subdue it . . “

God tells us to MULTIPLY, and replenish the earth. Not addition but multiplication. If there’s an area in your life you’re not multiplying, you need to do something about it.

Remember it is God who gives us power to make wealth.

2. Sources of wealth
Primary sources are either work or business or debt or a grant or investment (equity)
“If debt is for anything to do with consumption, it is bad debt. If it is anything to do with investment, it is good debt”

Is land an investment?
If it is not going to be converted to cash shortly, and has no cash flow, then it is bad.

Is mortgage an investment?
Mortgage if for yourself, it is bad debt. If for rental then good.

I know this is a controversial way of looking at it, but with our current lending rates, not many people can get enough to cover their mortgage from renting out property. You find you’re still getting money from your pocket to top up the rent amount.

Good debt should not take money from you.

It’s better when that mortgage money is coming from another source (e.g side business) such that you don’t have to wake up everyday to work for it.

When getting a loan that you will service out of your salary, you must keep reminding God to keep you safe and healthy for you to facilitate that loan. Not a good way to live.

Secondary sources of cash:Salary – if it is key source of revenue, remember you have to wake up and work for it.

Self employment – if you fall sick or go on holiday so does your business. You must institutionalize your business against this risk.

Business – best source as it is not dependent on you being there. I. e there’s a system in place.
Investor cash e.g venture capitalist – you’ve invested into other people’s businesses whereby you receive a dividend or sitting allowance at a regular frequency. This is another great source of wealth.

You must keep asking yourself: How do I move from employee or self employment status to business or investor.

Listing of company should a major aim for your business, and there’s no reason why yours shouldn’t be listed.

The more mistakes you make earlier, the better. Falling is part of the game.

Be clear about the source of money you’re in and where you want to be.

What steps are you currently taking to get there?

At the end of it, it’s by God’s help: Favor disqualifies qualifications

3. Life plan
Life has certain important stages:

• When under 21 – you’re supposed to be in school
• Between 21 – 42 – many drift to employment. This is a stage for collecting networks and experience.
• Between 43-63 – if still employed, you are either a CEO or senior manager/ or you have already transitioned to business
• Above 64 – you have little energy. Even sleeping is a problem sometimes.

You must be careful to know where you are and what is expected of you at your current stage of life.
What is expected of me at this level? What do I need to do at this age bracket to prepare me for 43, 64. .

When we are starting out in life, about 19 years, most of us are already experiencing financial freedom. But we slowly start accumulating unnecessary debt.

It is important to invest the money you earn and keep being financially free before obligations come.
We make financial mistakes often when we are in a hurry. And that’s when there are already obligations and we’re trying to be financially free.

Try be financially free first.

Why not focus on the important things in life first? Avoid going for car first. Go for investment of some kind to support your monthly expenses first.